SHIB — Why Shiba Inu Coin has $9B+ market cap now? How to understand this situation?

  • In Blockchain world, creating tokens is easy. It is really simple to duplicate and make your own unique ERC-20 tokens (tokens in ETH platform) without costing anything
  • Shit is gold if there are people want to buy it
  • Bandwagon Effect will let crowd lose their own sights and push things to only one direction
  • Technically, SHIB is nothing just a worthless token in the Internet, as it is a copy/paste of the template of code to generate the ERC-20 token (the token in ETH platform). Like what you created in your childhood the random drawings, it can be nothing, but it can be something if 1 millions people want to buy it, right?
  • Culturally, SHIB did an amazing job for telling story. (1) They firstly send 50% of the tokens to Vitalik and other 50% to Uniswap and locked forever, announced that it is totoally run by community; (2) The amount is huge and easily attracted attentions for the price huge fluctuation; (3) Icon is cute and make people think of Dogecoin, which has huge price increase before.
  • All the “Tech” part for SHIB, is just another story. like Shibaswap, just another duplication, which leads users to think that it is valuable, all these so-called tech things are just story points, added to SHIB culture, which makes people think it will go up.

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On-chain analyst, passionate to deliver nimble self explanatory visualized blockchain analytics. Wishing a world without any type of hierarchical contempt.

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Cryptwizards

Cryptwizards

On-chain analyst, passionate to deliver nimble self explanatory visualized blockchain analytics. Wishing a world without any type of hierarchical contempt.

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